China local governments special bond issuance increased 219.3b yuan in March

[BEIJING] Chinese local governments issued 391 billion yuan (S$79.1 billion) in special bonds in March, up sharply from 171.7 billion yuan in February, the finance ministry said, as Beijing looks to fast-track infrastructure projects to boost growth.

Outstanding local government special bonds were at 8.06 trillion yuan by the end of March, the finance ministry said on Thursday.

Total local government debt issuance stood at 624.5 billion yuan last month, according to the ministry, while outstanding local government debt was 19.62 trillion yuan at the end of March.

REUTERS